2013-01-15
2013-01-23
x aflac

STATION
CNBC 25
MSNBCW 15
CNNW 4
LANGUAGE
English 53

Set Clip Length:


than seven in ten people are dissatisfied with the present state of the economy. 60% believe we have hard times ahead. president obama swept into office, four years ago in the waive of hope, but it it seems to show that things have soured and it seems more like cope rather than hope. what happened? >> this is a different environment than it was four years ago, craig and a couple of points. president bush does come into a success term in the strong political position. his approval readings is 52% and the second-term agenda items like gun control as well as immigration and you mentioned those attitudes about the direction of the country and about the economy and this is an american public right now that lowered its standards and lowered its expectations from four years ago. in some ways that's a good situation from the obama white house and sometimes lower expectations make it easier to get achievements done, but this is a country that is still being hit by the aftereffects of the great recession and also this poll comes after the terrible tragic shooting as well as the showdown in the

's my challenge to everyone. instead of just a 2% economy, why can't we do so much better and get to a 4 or 5% growth economy? president obama has still not adopted progrowth policy. here's another thing. i'm not the only one who wants the president and congress to significantly cut spending. i mean, significantly. it would be progrowth and no more tax hikes by the way. spending and the debt are the top issue of concern for voters. look, these heinous mass murders are not about weapons. question -- why isn't anyone tackling the really tough issue that may be the root causes of these atrocities? such as broken families, such as the absence of fathers who set examples for their sons? such as the loss of faith in our schools? such as our homes and our culture that have lost faith as well. tonight, we are going to talk about the family values breakdown in america. "the kudlow report" begins right now. another key point tonight. for most of the history, america drew at 3.5% per you. the last dozen years however, we have dropped below 2%. and the so-called obama recovery is just a tad above th

lost the election, you can't just crash the economy if you don't get your way on the budget. this is, of course about the debt ceiling which smart republicans know full well is a trap for the gop. newt gingrich no stranger to setting up high-stakes showdowns with candidates, put it pretty clearly on joe. >> they have to find in the house a totally new strategy. i mean confronting -- everybody is talking about okay, now here comes the debt ceiling. i think that is frankly a dead loser, because in the end you know it is going to happen. the whole national financial system will come into washington by television and say oh, my god, this will be a gigantic heart attack, the entire economy will collapse, you guys can't be responsible. >> the only problem for john boehner and company, you couldn't just tell them they can't. they wouldn't accept that. so at the retreat this weekend, house republican leaders have been trying to coax their leaders down from the tree, not all the way, not completely on to solid ground, but maybe on a more secure branch. house majority leader eric cantor said n

economy hostage. if the house can pass a clean debt ceiling increase and meeting the existing obligations we will be happy to consider it. here we are as i said three days before inauguration and it looks like another fight that the republicans are not prepared to it seems to follow through on despite the threats. >> zachary and i were having a conversation in the green room and i said i don't understand the meaning of a second inauguration for the president. i get it now. the reason we need another inauguration is apparently one party doesn't understand we had an election in november and they lost. which means that you move on and you let the president be the president of the united states. these guys still want to fight the old battles of 2012. >> but they're giving this extension now. >> a three-month extension. the white house should tell them to go shove it. you can't run a government three months at a time. you have to have a long-term planning. bad for the markets. bad for the country. bad for the economy. let's make clear, definitive decisions. you lost. let's come together and co

. >> they will not collect a ransom in exchange for not crashing the american economy. >> the republican game of chicken is over. eric cantore proposes a three-month deal on the debt ceiling. some democrats are calling it a trap. i'll ask dnc chairwoman debbie wa wasserman schultz what she thinks. democrats are about to drop the ball. tonight, my message to senator harry reid. plus the american people are getting ripped off by a congress that just isn't working. congressman rick nolan, there 30 years ago. he is back now and he can't believe the difference. he is wondering, are we get iti paid for this? >>> is it really an admission of guilt if you don't show any remorse? >> it did not even feel wrong? >> no. it's scary. >> did you feel bad about it? >> no. even scarier. >> psychologist dr. jeffrey gardere on lance armstrong's bizarre performance last night. >> good to have you with us tonight, folks. thanks for watching. republicans surrendered today in one of his biggest fights. president obama warned republicans about taking the debt ceiling hostage. it looks like they heard the message. >> the financ

's stories. the big one, china aes economy rebounding in the final quarter of to 12. growth to 7.9%, up from 7.4% the appreciate quarter. economists do caution, though, that a chinese recovery is likely to be gradual and weak to drive a global rebound without improvement in the u.s. and europe. also, the fate of dozens of hostages in algeria is still unknown. the algerian military stormed a gas field where the workers were being held. six people if not more are believed to have been killed. >>> a team of experts from boeing and the aviation experts are arriving in japan today. today the japan transportation safety board released a picture of the battery. they said the battery was blackened and carbonized, had a bulge in the middle and weighed 11 pounds less than normal. >>> and the interview everybody is talking about, i stayed up late to watch it, lance armstrong telling oprah that he cheated. >> in all seven of your tour de france victories, did you ever take banned substances or blood dope? >> yes. i view the situation as one big lie that i've repeated a lot of times. i'll spend the rest

. rather than focusing on america's vexing problems like an exploding debt and a weak economy, mr. obama put forth that the nation's top priority must be imposing social justice. >> we must make the hard choices to reduce the cost of healthcare and the size of our deficit. but we reject the belief that america must choose between caring for the generation who built this country and investing in the generation that will build its future. [ applause ] for we remember the lessons of our past when twilight years were spent in poverty. parents of a child with a disability had nowhere to turn. we do not believe that in this country freedom is reserved for the lucky. talking points disagrees with president obama's priority. although. impossible to do what the president wants to do. in short, prosperity. can't be done no matter how much money you spend. much more effective is building a strong society based upon a robust free market and effective, effective social programs. that provide opportunity rather than charity. as the president should know by now. the federal government cannot provide fo

as well as the global economy. according to rex macy it is. he thinks there's a good chance that risk fears will rise and, therefore, the market will pull back. will that be the moment for investors to get in. good to see you, gentlemen. thanks so much for joining us. what are you expecting in terms of this market 2013? >> sure. well, right now we're at 1472 on the s&p. we think it's going to go marginally higher from here, but it's not going to be a smooth ride. we've got a vix at 13 and change. that's too low. that's where the complacency comes from. you see it there. as we move into the debt ceiling debate, it can be far harder to solve than the taxes, we think the market can be down for a while, and before it comes back up. >> so you're looking for a decline, and perhaps that is an entry point for some. do you agree with that? >> i think any decline is an opportunity to buy, maria. i'm very, very bullish on u.s. equities and one of the main reasons i am the u.s. energy story which i think is a story that's not being told as well as it should be. in 2012 the u.s. oil production was

and spending cuts which could embroil the economy and stock market in a new round of uncertainty but it kicks that can down the road, so is that why stocks are a bit tempered today? we'll take a look at that. the dow right now up 12 points. we are flirting with those five and a half year highs, 13,610 and change would be that five and a half year high so we're just pleau that right now. the nasdaq down another eight points at the moment at 3127 and technology among the groups suffering today. the s&p, again, here we go again. any positive close for the standard & poor's 500 would be another five and a half year high for the s&p. let's take a closer look at the markets in today's closing bell exchange with our guests. andres, you and i were talking about the markets earlier. what do you think? getting ahead of ourselves with the rallies we've had so far this year. >> earnings matter, and we're in earnings season. to a certain extent we might see some consolidation in the short term. if we look at valuations, still looks attractive or trading 13 times future earnings, 12 months ahead. the avera

and track called sentra an economy car minus the look and feel of an economy car. wonder how civic and corolla look and feel about that. the all-new nissan sentra, with best-in-class mpg. lease for $169 per month. visit choosenissan.com. >>> for two-term presidents, their >>> for two-term presidents, their second inaugural is often a chance to outline the new visions and attempt to emphasize the successes of their first term with an eye towards shaping their place in history. throughout the past 226 years only 16 presidents have delivered two inaugural addresses. we put the speeches of the last three two-term presidents through a word cloud to see what themes they chose to emphasize. by looking at the words they used the most, we can get a sense of the legacies they wanted to leave. president reagan who at the first inaugural famously claimed that government wasn't the solution, but the problem aimed to underscore that principal by using the word government 16 times. >> that system has never failed us. but for a time, we failed the system. we asked things of government that governm

the key message of deep spending cuts, not the message that deep spending cuts will help grow the economy and help create jobs. . . but i did hear no budget, no pay, aimed at democratic senators but then deemed unconstitutional, and an extension of the debt ceiling for about three months which is okay. . it doesn't really go to the heart of the matter. we're going to have a report on this whole story in just a moment. . meanwhile, better news, the stock rally continues up 54 points on the dow, 161 points for the week. get this, a 35% gain in the broad s&p 500. . just since early october 2011. that's right. it's like a stealth rally. it keeps on moving. we'll talk to a leading investment ceo a bit later in the program. . first up, in williamsburg, virginia, today, house republicans have agreed to take up the plan next week to extend the debt ceiling with some conditions. i think that's boring and uninspiring. let's go to the source of this cnbc contributor robert costa. . . i think it's boring, boring, boring. you tell why this is a great. are not attached to this proposal. very three mont

of the issues, regulatory issues and housing was really good today. the economy is feeling better and investors aren't feeling bad. earnings numbers pretty solid so people are voting with their dollars right now. things are positive. >> for how much longer, mike? you have to admit, a pretty good run for a while now. are we due for a pullback of some kind? >> due for a rest or a pullback, would i say, but i don't think it's anything that looks like it has to be too dangerous. in addition to all the things michael is talking about, the market's refusal to go down when everybody else is saying it's overbought, probably contributed to the fact that we have this give up move higher. chatter today that maybe the republicans won't go down to the wire and contest the debt ceiling increase. all these things have swept away a lot of nagging concerns and the next thing to worry about is people don't know exactly what the next thing to worry about s is. >> let's turn it over to you. what are you expecting throughout the rest of this earnings season. we haven't had any major blowoffs, but we're not talking

market economy and grow the business in a slow growth world economy. again, reflecting slow growth overall. i think they had strong numbers when it came to agency. some of those numbers up by 18%. volume was driven by agriculture with robust tales in latin america and a strong selling to the north american selling season along with increases in asia pacific for performance materials, electronics and communications and performance chemicals. >> the stock was higher a year and a half ago or so. but in terms of the last year, it's getting -- it's sort of the in the mid point of the trend. coming back, at least trying to get back to where it was earlier. all-time highs are at about 58. >> in corporate headlines, more developments in the boeing story. there are indications now that the dream liner could stay grounded longer than initially anticipated. investigators turning to the maker of the lithium ion batteries that are used in the planes. that is gsyausa. investigators visited the batterymaker yesterday. shares of boeing have started getting to the low end of the range after some ch

of taxes and spending. if this economy were growing, you would have a substantially lower budget deficit. gentlemen we will welcome you back another time. >> there is at least one state in the northeast that gets it. natural gas shale and it is pennsylvania and the republican governor tom corebet is about to join us. he picks up support from chuck schumer who didn't get an apology for the anti-israel statements. if we were growing at 5% instead of 2% we would be close to a balanced budget today. i'm kudlow we will be right back. at 1:45, the aflac duck was brought in with multiple lacerations to the wing and a fractured beak. surgery was successful, but he will be in a cast until it is fully healed, possibly several months. so, if the duck isn't able to work, how will he pay for his living expenses? aflac. like his rent and car payments? aflac. what about gas and groceries? aflac. cell phone? aflac, but i doubt he'll be using his phone for quite a while cause like i said, he has a fractured beak. [ male announcer ] send the aflac duck a get-well card at getwellduck.com. >>> here is the g

sensitive to the economy commodity in the world. ip took out a lot of capacity. ip is a genius. this company's had an unmitigated run. capacity's constrained, prices going up, 95% of capacity. that is like -- you can put the price increase after price increase, that says the economy is much stronger than expected. this is the first commodity to raise prices big when things get better. they're raising prices consistently. very bullish. >> that is a great, great tell. still more to come this morning. get ready for an ipo hat trick, sunco energy partners, norwegian cruise lines, all making their debuts this morning. stick around to see how they open for trading. the opening bell is just a few minutes away. what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. ♪ [ indistinct shouting ] [ male announcer ] t

for the fuel or these doctors will get paid, you know, government is a huge force in our economy. like it or not. and the number of companies that would really be affected from walmart to every defense contractor to giant health care companies, if their ability to collect money that is owed to them is then put in doubt, that triggers a whole, you know, range of activities of other people wanting to collect debts from them. >> sounds really scary. do me a favor, though, and crawl in to president obama's head for me and tell me why you think in 2006 he voted not to raise the debt ceiling and said the fact we're here today to debate raising the debt limit is a sign of leadership failure, the sign the u.s. government can't pay his own bills. what was he thinking there? >> voting against an increase of the debt kreeling is what you do in the opposition party. >> oh, okay. >> in congress. this is going back for the last many years. >> yeah. >> all the republicans in the senate voted for increases when bush was in office. they vote against it when obama is in office. and vice versa. the probl

economy. share your thoughts with us on facebook and on twitter using the hash tag edshow. we're coming right back. >>> it is a sad, sad day. but it's also your day, noah, my little man. i will miss your forceful and purposeful little steps stomping through our house. i will miss your perpetual smile, the twinkle in your dark blue eyes framed by eyelashes that would be the envy of any lady in this room. most of all, i will miss your visions of your future. >> welcome back to "the ed show." that was veronique pozner, giving the eulogy at the funeral of her son noah. noah pozner was one of 20 children killed at sandy hook last month. he was just 6 years old. veronique and her family, as well as other newtown families are fighting for reform in house of representatives of stopping another tragedy. and tomorrow the president will unveil a set of proposals to curb gun violence in this country. the president's recommendations are said to include universal background checks, a high capacity magazine ban, and a renewal of the assault weapons ban. nbc news has also learned that the president's r

to fly. and thanks to the strength of the global economy no, airline can afford to cancel an order with boeing. jumbo rival airbus sold out for years. and you can't get back in the queue with boeing if you cancel. you will be stuck with older, less fuel efficient planes to deal with a higher priced oil environment when you can fill every seat you have and then some boeing, which should be the single greatest short of our lifetime, frankly, actually rallied 92 cents today. a bear's worst nightmare, which, of course, is there for the single best possible dream. for a bull. now, let's extrapolate the boeing story. we were supposed to have a horrendous, hideous economy. those guys real downers. why? because confidence is way down. because washington's gridlocked. it's horrible down there. president, republicans, care less about the economy. supposed to be crushed, absolutely annihilated about worries of the upcoming debt ceiling, and decimated, laid to waste by the end of the tax holiday. rich people stopped dead in their tracks by new tax hikes. one so steep we were supposed to switch

now that the global economies are recovering. if you heard schlumberger and ge today, both companies on their conference calls, talked about china being probably the best area for activity 2013. and i think that's very exciting, and that's the reason -- one of the main reasons why you want to be buying this market if you do get a little bit more volatility over the next week. in addition, i think the u.s. continues to do pretty well, too. so i like the market, and on volatility we're buying it. >> so, we've got an economic story that seems to be better from the macro point of view, dean. and by the way, i should point out this market rocketed at the end of the day, settled up 53 points on the dow jones industrial average. what does the macro story look like you to right now? >> the macro story is considerably better than it's been over the past couple of years, pes legs with the european contagion story. not done but off the table for now. obviously things like the debt ceiling and the dysfunction in washington are reasons for concern, but i think one of the factors that's underpinni

. that means the lending is not going on. we're still at increasingly a low economy. if you buy back the dell, you don't go to the banks anymore. you find other sources of money. i think that the financial story and economic story is saying this is not the kind of financial environment that leads to rapid growth. >> interesting. >> okay. >> you tied it in to dell and jpmorgan and everything else. excellent. larry, thank you. >> my pleasure. >> join us tomorrow. "squawk on the street" begins right now. >>> good wednesday morning. welcome to "squawk on the street." i'm melissa lee with carl quintanilla, and jim cramer and david faber at the new york stock exchange. stocks had a pretty nice day yesterday. the s&p closed at five-year highs. we are looking to the down decide this morning. the dow looking to lose about 62 at the open. the picture in europe, a couple of downgrades for gdp forecasts from both the german government and world bank. italy is down by 1.5%. road map this morning starts off with the banks and earnings. jpmorgan higher. goldman sachs at 18-month highs. >> japan airlines gro

of these moments where the world economies are going to be better. i say that because it is the same batehavior i've seen over d over and over again. they are days to buy, not sell. in order to get into this bull market, here is the bottom line, i think this market is simply taking a snooze after a big bull run. but wakes itself up perhaps with my clock and if history serves me right, they go higher not lower and it is turned out that their evaluations ended up being catalysts galore. bob in florida, bob >> it is fwrat to tais great to. south florida by way of teaneck, new jersey. i'm calling about krispy kreme donuts. i sold it and forgot about it and now it seems like they reinvented themselves. the stock is up 70% since mid november and still trading. even talk about take over. >> i believe there is a turn going on. it has been ages since i looked at it. the last time i looked at it i chipped my tooth. i will do more work on it and see where this one can stop. nobody does know. robert in massachusetts, robert. >> booyah jim, hail from massachusetts. >> fantastic. >> there you go pats i don't k

did. the fact is we still have a good fundamental backdrop. the economy is expanding. it's not contracting or growing. value sheets are strong and valuations are very attractive so what is there not to like? >> you're our resident skeptic today, and i would point not to the normal averages that we quote every day, but look at the dow transportation average which could close at an all-time high today. the transportation companies, often a leading indicator for the economy. if they are doing well. chances are the economy is going to get better. wouldn't that make you want to buy stocks right now. >> it does. we're not -- we're actually a little bit more bullish, esespecially the first six months of the year. we still are expecting slow growth, commodities where we're shorting assets, but in terms of u.s. and in terms of international, we do expect growth, and we are excited about what's happening, but later on in the year i think it's going to be another story. >> what do you mean by that, later on in the year? what's going to be the upset later on in the year? >> there's a

for the economy. what are you seeing? >> well, 2012 was the year housing really made its statement at its back. it's not back to where it was, but surely we can now say housing has turned the corner so that's a good thing for the economy. when housing does well, everything else seems to do well. quite a multiplier effect. in fact, there's been no recovery in this country of size or stability without housing participating or leading. energy is doing pretty well. we see some manufacturing, but to be honest about it, the recovery is still not as strong as it needs to be. there's still too much uncertainty, and there needs to be more clarify for the economy to take off. >> a really important point because i think businesses are, you know, shaping up and are currently in great shape in terms of cash on balance sheets. >> terrific. >> so they have the potential to put money to work, although that uncertainty factor is really keeping them from doing so. >> in fact, corporate balance sheets have never been better. liquidity, cash, we've grown 300 billion in core deposits in four years. you know, consumer

lawmakers accountable for what they're doing or not doing to the economy. i am the network's chief business correspondent in addition to anchoring the show. it's a title i earned covering economies and businesses and stock marks around the world. you can see me do that every weekday morning on a show called "world business today." next week, i'll be talking to some of the smartest most powerful minds in business who have an impact on your prosperity. let me show you where i'm going. davos is in the eastern part of squitser land in the swiss alps. it is the highest city in europe. a little more than 10,000 people live there, but every year some of the biggest names in business come in for the world economic for forum. it turns out to be the coldest place in europe and maybe the best place to take the temperature of the global economy. i'll be thousands of miles away but not going to forget about my job. my fox will be on what role the u.s. plays in the global economy and what 2013 is going to look like to the global business elite because their decisions will have an impact on investment and

the debt ceiling or put the u.s. economy st. at risk. it's tuesday, january 15th, 2013 and "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. we've been watching the u.s. equity futures and at least at this point you can see they do look like they're indicated to open a little lower. right now, dow futures down by about 16 points below fair value. the s&p futures are about 2 points below fair value. we have some different nebs going on at the top of the screen than we do on that fair value board. we'll check on that, as well. >>> dell is said to be in talks with private companies in reports of a possible guyout. the journal says jpmorgan is involved in the negotiations. dell shares have been soaring near an eight-month high on first word of this news yesterday. you can see up about close to 2% to the premarket sales. 64 is the last dip. in other technology news, facebook is holing a press conference today. no word on what the big announcement will be. you've heard a lot of analy

that is indeed worrisome. however, we are seeing some pretty good signs in the economy right now, so we're hopefully optimistic that they'll continue. and last thing anybody who's bet against america has proved it's a losing bet in the past. we're very bullish on this country. >> steve, thanks so much for your time. thank you for joining us first on cnbc. >> thank you. >>> interesting debate. meantime, goldman sachs making waves with the bonus pay joits. we'll get that in a moment. after the break, david faber's exclusive with mel karmazin. he's here to give us his very first interview since stepping down as the ceo of sirius xm. we're back in a couple of minutes. mine was earned in djibouti, africa, 2004. the battle of bataan, 1942. [ all ] fort benning, georgia, in 1999. [ male announcer ] usaa auto insurance is often handed down from generation to generation because it offers a superior level of protection and because usaa's commitment to serve the military, veterans, and their families is without equal. begin your legacy. get an auto-insurance quote. usaa. we know what it means to s

" live from the dubliner coming up. >>> the state of our economy calls for action bold and swift, and we will act, not only to create new jobs but to lay a new foundation for growth. we'll build the roads and bridges, the electric grids and digital lines that feed our commerce and bind us together. we'll restore science to its rightful place and wield technology's wonders to raise health care's use and lower its cost. >> here we are four years later. why not come back to the dubliner? all you did too. my, lord. the line goes around the block. a wonderful, joyful crowd. thank you all for coming. joining us now with the politico playbook, the politico executive director jim. >> i'm always a dose of sunshine in the morning. you guys were talking about ted cruz and his comments on gun control. i think what people need to realize, ted cruz is a mainstream republican with this senate and this house. his views, he's not on the conserveative edge of the party. that is the party. when you think about the budget, think about gun control -- >> saying the president exploited

the economy in great detail. he does massive preparation and i think when he sits down at a table to say, do a fiscal deal one of the reasons he's able to close that deal is because, a, he has decades of experience in compromise which some of these kids today up there don't really know much about. and he understands the granularity of these issues and we saw this and it's helpful. >> vice president joe biden is going to take the oath of office for a second tomorrow right after we return from the break. ♪ ♪ pop goes the world pop in a whole new kind of clean with tide pods. a powerful 3-in-1 detergent that cleans, brightens and fights stains. pop in. stand out. but i'm still stubbed up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] alka-seltzer plus liquid gels speeds relief to your worst cold symptoms plus has a decongestant for your stuffy nose. thanks. that's the cold truth! wears off. [ female announcer ] stop searching and start repairing. eucerin professional repair moisturizes while actually repairing very dry skin. the end of trial and err

, housing is better, you want to be invested in this economy for the next three to five years because that's where you're going to make money. you're not going to make money in fixed income. you're not going to make money focusing on only pure dividend stocks that are 5%, 6%. you're going to have to have companies that can grow the top lines, that have the ability to shepherd capital and really can take the consumer that is now in a better shape than the u.s. and now is getting better overseas to grow your company. >> okay. so you're talking mostly about multi national companies or -- >> multi nationals and secular growth companies. >> both? >> both, absolutely. but you want good companies with management that are just not going to sit there and do financial engineering and say, oh, we borrowed more money and because our cost of debt is lower than our dividend and we can do that. that party is over. that game is done. you really want the companies that i think if you want to beat the market and we think actually the market is going to have -- is going to grow, gives you a look at how much

real time and energy making a difference, moving the economy, getting people back to work and taking care of social issues making a difference. the fact that we don't is the reason in fact that we continue to have the lowest approval ratings in the history of congress. >> yes. i want to get to that but i want to stay on guns for a second. my sense is and i read the statement your office put out for instance supporting say the assault weapons ban, and i believe you are all supportive of that right? >> yes. >> you, congressman have a district in which i don't think it will give you much grief in your re-election. you represent the great city of madison, wisconsin. but you both had very contested races. you know, sam stein wrote a great piece in the huffington post. going back and talking to members who were around in the '94 assault weapons ban who really did get blindsided by what the cost of that vote was in terms of the nra coming after them. i want to play a clip of jim moran talking about the nra's political power. take a look. >> that this is going to happen, it is going to have

. the 2013 ram 1500 with best-in-class fuel economy. engineered to move heaven and earth. guts. glory. ram. the new ram 1500. motor trend's 2013 truck of the year. >>> turns out that the subway footlong is sometimes 11 inches. we have been $5 foot wronged. now we know how jared lost all that weight! he starved to death! subway, it is over. i'm going to be keeping you honest by measuring every sandwich with the most accurate means possible, my fruit by the foot. >> i don't know, lance armstrong, manti te'o, now subway sandwiches. >> who can you trust? >> my world is crushed. let's take a look at the "morning papers." "the financial times." china's economic growth has hit its slowest rate in 13 years. still the country's gdp grew by 7.8%. economists say it could have been worse. they note amid concerns of a slowdown, china's government has spurred heavy investment in inf infrastructure. >> "usa today." congress, inexperienced. 40% of lawmakers in the house have fewer than three years' experience. the lowest number since at least 1995. as a result, new members are often receiving committee as

are and as much as we can tell about the economy and financial sector, we will be obsessed with jamie dimon, if he didn't get as much of a bonus as normal because his pristine reputation because of the wale slipping -- thing we can find as members of the media. >> $6 million trade on a balance sheet of -- >> i don't know how much they made in spite of that. a lot. >>> speaking of the bank, another -- >> look who's here! >> and dressed normally, too. >> can we get the man a chair? he can't sit -- ♪ >> we thought you were trying on different zweaters. on a day like this, what is the right look for a young, happening, dashing -- >> what -- what -- >> you have time. don't do this to viewers. it's not that important. did you not get make-up? >> no. he didn't. >> look at -- this is natural beauty. >> you didn't shave -- you really think you need to be here that much that you can't get make-up? >> absolutely. >> taking one for the team. >> all right. >> speaking of this -- stay on us, please. morgan stanley will take -- you can get powder or something if you want. just headlines -- >> the women didn't

this debt ceiling pretty much to -- you know, as the democrats like to say, to take the economy hostage, to demand spending cuts. they have backed off of that, looking at some plan to raise the debt ceiling at least for the next three months, to give some time for those talks to happen. and there is a big challenge in coming together, because the president still really feels like absolutely, the debt needs to be focus on, it's a huge issue, big priority, but it needs to be done in a balanced way so that all the spending cuts are not focused on programs for those who are most vulnerable. so we'll see. >> so ana, do you think that the debt ceiling will set the tone between the president and congress? >> no. i think we're going to get a short reprieve. i think we're talking about, you know, what the republicans were talking about, i was actually at the gop retreat that maria just referenced and it's a possible three-month extension. but at some point, the problem, the whole problem, has got to be dealt with in a holistic way. the deficit has got to be dealt with. debt has got to be dealt w

? it's hard enough getting jobs right now in this economy. veterans' unemployment is a little bit higher than the national rate. then you have people who are dealing with some type of wound as they try to get back into the workforce. do we have to curry the jobs towards their skills? >> no, i don't think so. i think these disabled veterans bring lots of skills and leadership skills as well as the breadth and depth of experience they had in the services back to local communities. what has occurred is the u.s. army in 2007 asked the national organization on disabilities to help develop a solution to this problem, and they created three locations in north carolina, texas and colorado to work very closely with these stabled veterans. it was one on one with other veterans working with veterans, primarily disabled with disabled, very career-intensive veterans centric and focused on transitioning them back into civil society. the success rate has been over 70% of those veterans after 18 months have a job or they're in some sort of educational environment to include vocational training. i

, you have to see the economy get better. that could happen. i'm hoping it will happened. i'm just not sure if this is the time to put new money into goldman sachs, if we're sure not sure that will play its way out. it's just a matter of, how long does it take for the uncertainty to get out of the way, so companies can get back to making acquisitions. >> jeff, do people give you a hard time when you cut the ratings and yet boost the price targets? that gets made fun of a lot. >> yeah, we do get some for it. the price target increase, it's very form layically driven. what our pick it into our what it's done over the last decades, and the price target -- i don't think 1.1 times tangible is expensive, but we do get some push back on that for sure. >> i'll bet you do. we had a discussion earlier about whether the go long money center short liegen center will last other reverse. do you have a view? >> i would expect it to last, maybe continue. the pressure is hitting the bank industry right now. i think the money center banks have a usneaks advantage to not have as much pressure and exp

economy. the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. >> you know, it looks like republicans are up against another wall. but they're not going to be able to get -- they're not going to be able to get, quite frankly, some things they really want, if they're serious, are important. spending issues. but this is -- he's got them again. >> here's the problem with the republican party being owned by extremists on issues not related to the debt. let me tell you something, the president of the united states, it's laughable that he would talk about republicans not being responsible on debt issues when this president has been in the white house since january the 20th, 2009, and he has yet to do anything significant on social security or medicare. he cut medicare, so he could start a new entitlement program. that's not making medicare more solvent. he hasn't done anything to curb the costs of medical expenses, which he said he was going to do. he did nothing. he struck back room

to be reflective of a loan environment that's commensurate with a 2% to 3% growth economy. given that we think we'll get our fair share, we'll put some very profitable relationships long-term high-quality relationships on the balance sheet, and at the e of the -- this cycle, we're going to feel very, very good about how our customer business is structured and what that means for long returns. >> bryan, i've got to tell you, this group is going to get hot. i know it has to. and bryan's the chairman, president, and ceo of first horizon national. thank you so much, sir, for coming on the show. >> thank you, jim. thanks for having me. >> we still don't have the confidence. and that's really hurting a lot of the lending in this country. well, look, we get it, these stocks are going to rocket. let's put it that way. fhn, good stock, stay with cramer. >>> coming up -- sweet speck? cramer's got a sweet tooth tonight, and he's hungry for a scrumptious speck. chocolate sprinkles or covered in cream, could this confectionery delight stock make you salivate? stick around to find out. with the spark cash card

spending will eventually collapse the entire u.s. economy. this could be our last warning. lou dobbs will analyze. >> this is the president, i think, who has drunk the kool-aid. he is feeling right now high on his own power. is that true? is president obama becoming so rigid that he is unable to governor? carl rove has some thoughts. >> did you feel about bad about it? >> no. even scarier. >> did you feel in any way that you were cheating? >> no. >> lance armstrong pretty much admitting he is a sociopath. is he really sorry for his doping and lying? gutfeld and mcguirk on that. >> bill: caution, you are to enter the no spin zone. the from south florida. the factor begins right now. >> hi, i'm bill o'reilly reporting tonight from south florida. thanks for watching us. are we the people responsible for the chaos that is involving enveloping america? folks are responsible for the government they get. folks could have thrown hitler out they did not. russian ares fought hard for stalin. the chinese surrendered to move. the cubans allowed fidel castro to take away their liberty. the folks

overseas stopped being dragged down by our sluggish economy. the move is in its infancy. they were left for dead in 2012 and are roaring back to life. i think they will gain steam as the wrangling in washington goes on for the rest of the year and beyond. fred in ohio, fred? >> caller: yes, jim. boo-yah. this is fred from ohio. it's a pleasure to talk to you. >> we loved ohio when we went out there last year to see massillon play some other ohio team. we were in that town. >> caller: i've been watching you from day one. >> thank you. >> caller: i want to know what do you expect from pepsi on the first quarter earnings and china and the association with burger king and marketing. what do you think of the first quarter earnings? >> i think the ceo is going to deliver a really, really good quarter. i think that stock -- its emphasis on emerging markets, it's going to do a great job. i would own pepsico going into the quarter. dino in california, dino? >> caller: jimmy. >> yo-yo. >> caller: happy new year. >> happy new year. >> caller: by the way, i hope you shorted the mayans. >> oh, yeah.

industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>steve: welcome back. the welfare state is growing and sadly on so many levels no sign of it slowing down. >>gretchen: that according to a new chart released by republicans on two senate budget committees. according to dana colmes, federal welfare spending expected to skyrocket 80 % over the next decade. stew varney is here. how did he come up with that calculation? >> that is government numbers used by republican members of the senate budget committee. it represents a whole new america. in fact, it represents a total reversal from the days of welfare reform in the mid-1990's. welfare has made an enormous come-back. there are no plans to rein it in. it is going to go up by $11 trillion. spending on welfare up $11 trillion

. but obviously he's going to be talking about jobs and the economy. i think in order to do that, he's got to be making us more competitive throughout the world with other countries because you look what's going on in india and china and others and brazil, as an example, and they're eating our lunch. we'll be discussing obviously immigration, which, again, whether it's republican or democrat, they have to get on the band wagon because something has to be done with respect to immigration. and it can be done in a positive way. reducing the debt is a very big thing. i know he'll be talking about guns and some people like that and some people don't. but he'll probably be mentioning that. terrorism is a big thing. you look at it just in watching your show previous to my going on, i'm looking at all that's going on in the world with terrorism and we're not making too much of a dent because it is a mess. they were talking about and our president was talking about how wonderful mali is. mali has been overrun. it's really a big problem, terrorism. so obviously that's going to be high on the agenda

'll be right back with more news. ♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. >>> mr. president. >> mr. president. how are you doing? hey, mr. president. mrs. obama. i don't know if they see me. >> i don't think they saw me. maybe they did. i don't know. >> there were a lot of people. >> they were standing there. we stood up. there you were. you were down on the other side. >> i was down on the rolling flatbed truck with the rest of the media watching you and saying i thought i was making a ham out of myself. >> he wasn't saying anything to us at all. >> it goes to show you we'll stop at nothing, wolf, to get the story. >> exactly what wolf was thinking. >> it was great. >> historic day. a presidential inaugural is a highly, ly coreographed and well planned event. >> it is. >> reporter: it was a day that got off with a bang. not that bang, the bangs on michelle obama. >> and the bangs. let's not forget the bangs. >> reporter: it was also a day of odd couples. beyonce and jay-z rubbing shoulders with newt gingrich and

in exchange for not crashing the american economy. >> let's talk about that and more with congressman cathy mcmorris rodgers of washington state. she's a member of the republican leadership in the house. she's chairman of the house republican conference. congresswoman, thanks for coming in. >> thank you. good to be with you. >> of course. i wanted to get your reaction to what the president said there. his point that hays driving over and over again that this is not about authorization new spending and all of this is about paying bills that we've already racked up. so how do you counter that? >> it's the wrong analogy. this is about the credit card being maxed out, and then we're going to the credit card company, and asking to raising that limit even farther. we are talking about future spending. and it is a debate that needs to happen. we need the president to get serious about the out-of-control spending, the record debt that we've accumulated as a country. and we need the federal government to stop spending money that it doesn't have. >> i understand that you are making, republicans are, mak

into that broader vision. he reformed one six of the nation's economy with health care. now, he will go to the next level with global change on the environment. i see that as a sleeper and agree it was a very progressive speech. the idea he's putting a period on the reagan period saying this is a new day, we're going a new way and these are the agenda items i will touch on. the question for us, joe, conser conservatives how do you make the chess table now, he's made a couple moves and been successful on those moves and how do you post those? >> i'm glad you brought up chess. that's what requires thought and strategy and skill. republicans have been walking up to the chess board the past several years and waving their arms. here's a party facing the president with a 70% approval rating as far as being likable. 52% of americans approve of the job he's doing as president. only 26% approve of the republican party. john boehner has an 18% approval rating. the tea party, 9% approval rating. this is a movement, this is a party in retreat and that's why the president did what he did yesterday. >> let's loo

important to our state. we also compete in a global economy, so, i'm very he well aware the lower your rates are, and best rate of all is zero and that's what we're trying to get to. >> greta: and have you spoken to governor jindal, he also this week said he wants to do essentially the same thing in his state. have you spoken to him? >> no, i've not. i saw bobby, oh, a couple of months ago, i wasn't aware that he was going to do this. i'm not surprised, many governors across the country are going to look at eliminating individual income tax if they do it. >> greta: i suspect i heard sean hannity, he may move to nebraska if he gets wind of this, or louisiana, because he has pretty stiff income-- state income tax . nice to see you, governor. coming up an unthinkable crime, a nine-year-old girl chained in a dark dungeon and 20 years later she's telling the store and you have to hear what former president clinton said about his wife. here is a hint, it has to do with a first husband. and in two minutes, no, it's not a king's palace, but a u.s. government official, it's costs 242,000 and your tax

will be facing on fronts both domestic and foreign. already on deck, bolstering an economy that is slowly recovering, bridge aing deep divide over the nation's finance, winding down the war in afghanistan and negotiating a volatile situation in both the middle east and northern africa. in addition to the challenges set upon him, the president has made clear his own priorities. changes to the country's gun safety laws and an overhaul of america's broken immigration system. can he do did all? the man himself understands it will be a careful negotiation. >> i'm more than familiar with all the literature about presidential overreach in second terms. we are very cautious about that. on the other hand, i didn't get re-elected just to bask in re-election. >> michael, he does not sound like he is going to be basking in much of anything other than -- >> no sign of it. >> the torrent of hate mail and support from some corners. i wonder on the eve of this inauguration whether -- what do you think of the to do list that the president has, and to put it in some context for us. we know he has limited -

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